IndiGo fixes Rs 700-765 IPO price band; may raise Rs 3,268 cr

Low-cost airline IndiGo's parent InterGlobe Aviation has fixed the price band for its initial share sale at Rs 700-765, through which it could raise up to Rs 3,268 crore.

The initial public offer would open on October 27 and close on October 29, with the allotment for anchor investors scheduled for October 26.

Under the offer, InterGlobe would have fresh issue worth Rs 1,272.2 crore as well as an offer for sale of little over 2.61 crore shares.

The price band has been fixed at Rs 700-765 per share having a face value of Rs 10 each, according to a public announcement. At the upper band, the share sale could fetch little over Rs 3,268 crore.

Among others, Rahul Bhatia would be offloading 3.06 crore shares.

Earlier, the plan was that existing shareholders would sell up to 3.01 crore shares but as per the final offer document, this quantum has been reduced to 2.61 crore shares.

The shares are proposed to be listed on BSE and the NSE. The much-awaited IndiGo IPO would also be a test case for revival of the primary market as the relatively smaller public issue of Coffee Day Enterprises saw a lukewarm initial response even though it managed to sail through on Friday.